Unisys Corporation (UIS) announced that Matthew Desch has been elected to the Unisys board of directors, effective January 1, 2019. Desch has served as chief executive officer and a director of Iridium Communications (IRDM), a McLean, Va.-based, global mobile satellite communications company, since 2006.

Unisys price target lowered to $13 from $18 at Loop Capital. Loop Capital analyst Joseph Vafi lowered his price target on Unisys to $13 and kept his Hold rating after meeting with its management. The analyst notes that the discussions assured him that the company's security software is "helping drive win rates higher on broader services deals", while a string of wins "underscores the Unisys value proposition in an attractive end market". However, as the company nears its "peak years of pension cash payout obligations", Vafi takes a more cautious stance on the price target until the issue becomes "more clear".